Wall Street Fraud
$357M Fannie Mae Fund to Be Distributed by SEC
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Editor: Debra G. Speyer, Esq.
Profession: Attorney
Category: Interesting News
Fannie Mae settled allegations in May 2006 that it altered its Securities and Exchange Commission financial reports and filings by $11 billion between 1998 and 2004. A fund was set up to provide partial compensation back to the victims of this fraud. The U.S. Securities and Exchange Commission began a distribution process on April 30th in the amount of $357 million to settle fraud charges with Fannie Mae.
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